Aussies less confident in economy after rate cut: ANZ

CONSUMER confidence fell over the weekend, an ANZ survey suggests, as people appeared to view the latest cut to the cash rate by the Reserve Bank of Australia as a signal of worsening economic conditions.

The ANZ-Roy Morgan Australian Consumer Confidence index dipped 1.1 per cent from the previous week, with respondents' perception of the economy - including the outlook for the next 12 months - retreating 3.6 per cent and prospects about conditions in the next five years sliding 1.7 per cent.

But the weekly measure of sentiment, which is based on about 1,000 face-to-face interviews conducted on Saturdays and Sundays, recorded a 3.7 per cent rise in how people felt about their financial condition compared to a year ago and a 1.3 per cent increase regarding their finances over the next 12 months.


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